Washington Post Co. Earnings Cheat Sheet: Two Straight Quarters of Profit Broken by a Loss

S&P 500 (NYSE:SPY) component Washington Post Co. (NYSE:WPO) reported its results for the third quarter. The Washington Post operates as a diversified education and media company.

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Washington Post Earnings Cheat Sheet for the Third Quarter

Results: Reported a loss of $6.2 million (82 cents per diluted share) in the quarter. Washington Post Co. had a net income of $60.9 million or $6.84 per share in the year earlier quarter.

Revenue: Fell 13.2% to $1.03 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: WPO reported adjusted net income of $4.95 per share. By that measure, the company beat the mean estimate of $3.85 per share. It beat the average revenue estimate of $1 billion.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 10.7% to $1.07 billion in the second quarter. The figure fell 9.2% in the first quarter from the year earlier and dropped 3.9% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $45.8 million in the second quarter, a profit of $15.6 million in the first quarter and $79 million in the fourth of the last fiscal year.

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of $5.92 versus a mean estimate of net income of $5.87 per share.

At $15.59 per share, the average estimate for the fiscal year has fallen from $19.80 ninety days ago.

Competitors to Watch: Career Education Corp. (NASDAQ:CECO), The Princeton Review, Inc (NASDAQ:REVU), Apollo Group, Inc. (NASDAQ:APOL), DeVry Inc. (NYSE:DV), Gannett Co., Inc. (NYSE:GCI), Grand Canyon Education Inc (NASDAQ:LOPE), Corinthian Colleges, Inc. (NASDAQ:COCO), National American Univ. Hldgs., Inc. (NASDAQ:NAUH), Strayer Education, Inc. (NASDAQ:STRA), and Bridgepoint Education, Inc. (NYSE:BPI).

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(Source: Xignite Financials)